Acronym vs. Initialism
Acronym
A word formed from the initial letters or groups of letters of words in a set phrase or series of words and pronounced as a separate word, as Wac from Women’s Army Corps, OPEC from Organization of Petroleum Exporting Countries, or loran from long-range navigation.

Initialism
A set of initials representing a name, organization, or the like, with each letter pronounced separately, as FBI for Federal Bureau of Investigation.